#USNationalDebt The U.S. national debt represents the total accumulated borrowing by the federal government to cover its budget deficits over time. As of May 2025, it stands at over $36 trillion, making it the largest in the world. This debt is financed by selling Treasury securities (bills, notes, and bonds) to various lenders, including American individuals, businesses, government agencies, and foreign investors.

The debt-to-GDP ratio, currently around 122%, indicates the debt's size relative to the country's economic output. While some debt is normal for government operations, continuous large deficits can lead to higher interest payments, potentially crowding out other essential government spending and raising future tax burdens.